Examples of recent questions relating to the Aviva Equity Release Solicitor Panel from members of the public
A conveyancer my husband and I had intended to instruct on a purchase said he will levy higher legal fees if my lender is because of their unusual legal requirements. Will I regret using Aviva Equity Release? Any comments will be appreciated
Aviva Equity Release conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Aviva Equity Release conveyancing panel. If they are not, this does add further risk of delay as Aviva Equity Release will appoint their own solicitors to look after their interest.
I am buying a brand new duplex and my solicitor is telling me that she is duty bound to disclose incentives from the seller as her practice is on the Aviva Equity Release conveyancing panel. I am nearing the developer’s deadline to exchange and I dont want to delay matters. Is my lawyer right?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Aviva Equity Release approved panel is to comply with the CML Handbook requirements (last updated for this lender on Aviva Equity Release). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all the firms listed on your directory have online case tracking as I was under the impression that this was a precondition of being on the Aviva Equity Release solicitor panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
My grandmother passed away six months ago and as sole heir and executor was left the house. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Aviva Equity Release , pay off the mortgage etc. Is this possible?
If you intend to re-mortgage then Aviva Equity Release will insist on your using a conveyancer on the Aviva Equity Release conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aviva Equity Release conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aviva Equity Release mortgage is registered as a charge at the Land Registry.
Do conveyancing solicitors on the Aviva Equity Release conveyancing panel work on a no sale no fee basis?
There is generally no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
We expect to receive a DIP from Aviva Equity Release this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Aviva Equity Release recommend a solicitor on the Aviva Equity Release conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Aviva Equity Release conveyancing panel. The solicitor represents both you and the Aviva Equity Release through the process.
At last I have had an offer on an apartment accepted, the seller does however have a dependent purchase. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties in the pipeline. My conveyancing solicitor has been instructed. What should be my next step? At what point should I appy for the mortgage with Aviva Equity Release?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Aviva Equity Release conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Aviva Equity Release and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.